SHAH ALAM: Majuperak Holdings Bhd is making its foray into the Klang Valley with its first property development outside Perak, the Nexus Residences, with a gross development value (GDV) of RM122 million.
Majuperak is a 51.41%-owned subsidiary of Perak State Development Corp (PKNP). The project is carried out through Majuperak subsidiary Nexusbase Development Sdn Bhd.
Majuperak executive chairman and PKNP CEO Datuk Redza Rafiq Abdul Razak said its foray into the Klang Valley is timely given its long-term strategy to diversify its income stream.
“The fact that you have the Work From Home endeavour changes the manifestations of commercial buildings as well as logistics but people still need houses. This particular location per se is in the middle of mature location and area. We believe in the potential and plausibility of the dual-key concept because of the unique features of this location,” Redza said during the Nexus Residences groundbreaking ceremony today.
Nexusbase chairman and Majuperak executive director-cum-group CEO Nizran Noordin said one of the unique selling points of the development is the dual key concept for flexible occupancy and investment for its potential buyers.
“With dual key units, our buyers get to stay in and rent out a single property without compromising too much on their privacy. This is because, the tenants will be utilising separate keys, living spaces, toilets and kitchen amenities, so both homeowners and tenants can have as much personal space as they need.
“This contemporary concept is highly suitable for young couples with children or tenants with the occupancy of elderly couples as the owner of the property that may rent out the adjoining studio unit generates extra income.”
Nizran stated that Nexusbase aims to deliver a high-quality residential property that caters to consumer needs in line with today’s lifestyle. The residential development has strong potential to draw property owners while enabling Majuperak to expand its market segment.
Nexus Residences is a freehold low-density residential development designed for multigenerational living. It comprises of 153 units which features various facilities such as an infinity pool, family spa, aqua gym, stripe park and more. Additionally, the project location in Sekyen 27, Shah Alam will have connectivity with major highways, shopping centers and public transport amenities. The units range from 1,309 sq ft to 5,511 sq ft with a starting price of RM803,400. Construction works are expected to begin in Q4’22 and targeted for completion in 2026.